When it came to revitalizing a long-abandoned Carnation Milk Plant in Tupelo, Mississippi, nothing could stop Intervest Corp.—not funding delays, skyrocketing construction costs, or even a global pandemic.
PROJECT DETAILS
DEVELOPER: Intervest Corp.
ARCHITECT: Wallace Architects
GENERAL CONTRACTOR: Century Construction Group
MAJOR FUNDERS: Hunt Capital Partners; Cadence Bank; Mississippi Home Corp.; Financial Institutions Housing Opportunity Pool; Mississippi Department of Archives and History; National Park Service
The developer was determined to give the historic landmark new life. Now, the 1927 plant has reopened after nearly 50 years, this time as Carnation Village—an affordable housing community for seniors 55 and older.
“Carnation Village overcame so many obstacles,” says Pam Thornton, vice president of development and acquisitions at Intervest. “This development is a survivor.”
The project’s opening comes at the perfect time, as the senior community in Mississippi rapidly grows. State data shows that the population of 65 and older residents jumped 29% between 2010 and 2021. Nearly 15% of all residents in Lee County, where Tupelo is located, are 65 or older, and 25% of those make just $20,000 or less per year.
Intervest
Carnation Village offers affordable housing options for these residents, with 31 of its 33 units income-restricted. Residents will save an average of 47% on rent when compared with market-rate properties.
“Carnation Village fills a critical need for affordable housing in the city of Tupelo,” says mayor Todd Jordan. “The project also restores a nearly 100-year-old city landmark in an innovative way.”
Though the community still retains its iconic 110-foot smokestack, it’s been fully renovated to National Green Building Standards, making the property not only comfortable for residents but energy efficient, too. The $16.6 million development also features a butterfly garden, walking trails, a clubhouse, and on-site programs, like nutrition classes, financial literacy programs, and more.
“Most new developments in Tupelo are new construction, but Carnation Village is one of the few that blends preservation with a modern use, turning a blighted site into functional housing,” Thornton says. “The adaptive-reuse into senior apartments has been hailed as a game‑changer for the neighborhood and a reawakening of a cherished local landmark.”